Bank of America Hit In Spearphishing Attack

Fox Business News is reporting that cyber hackers, apparently from Eastern Europe, are stealing money from Bank of America customer accounts in coordinated cyberattacks.  The hackers use spearphishing emails to steal employee credentials.   Using the stolen credentials they steal customers’ money.  They then send fake emails posing as bank administrators approving the wrongful transfers.  Finally, the hackers mount a denial of service attack on the bank’s website to distract to stop the bank from catching the fake wire transfers.  In same instances the criminals have stolen up to $1,000,000.

You can view the news report here:

How can a spearphishing attack be prevented?  What is needed is a method to deprive the attacker of his ability to deceive. Spearphishers deceive by masquerading as trusted senders.  At Iconix we identify trusted senders. Our identification system makes it easy for users to distinguish trusted senders from attackers masquerading as trusted senders.  SP Guard from Iconix provides the ability to distinguish real email from spearphishing attacks.  Click here to learn more.  You can contact us at 408-727-6342, ext 3 or use our online form.


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